CTS Corporation (CTS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
CTS Corporation (NYSE:CTS) issued its earnings results on Thursday. The electronics maker reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02, Bloomberg Earnings reports. CTS Corporation had a net margin of 7.49% and a return on equity of 11.54%. The company had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.56 million. During the same period in the previous year, the firm earned $0.28 earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. CTS Corporation updated its FY17 guidance to $1.13-1.18 EPS.
Shares of CTS Corporation (NYSE:CTS) traded up 3.75% on Thursday, hitting $26.30. 39,656 shares of the company traded hands. The stock has a market capitalization of $866.14 million, a price-to-earnings ratio of 28.87 and a beta of 1.22. The firm’s 50 day moving average price is $24.27 and its 200-day moving average price is $22.32. CTS Corporation has a 1-year low of $16.35 and a 1-year high of $26.30.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, September 29th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, September 28th. CTS Corporation’s payout ratio is 17.58%.
Separately, BidaskClub downgraded shares of CTS Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.50.
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CTS Corporation Company Profile
CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets.
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